ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Compliance and Risk

CFPB Guidance Reiterates Changed Approach to RESPA Section 8

October 8, 2015
Reading Time: 1 min read

The Consumer Financial Protection Bureau issued a bulletin today describing its findings that Marketing Services Agreements are often used as a means to circumvent RESPA’s prohibitions on kickbacks and referral fees under the Real Estate Settlement Procedures Act’s Section 8 provisions. The bulletin describes the federal anti-kickback provisions and sets forth examples from the bureau’s enforcement experience as well as risks faced by lenders entering into these agreements.

The bureau said that it has seen “numerous examples of MSAs from industry whistleblowers that, upon initial review, appear to use MSAs to disguise kickbacks and referral fees.” In response, it added, “certain lenders have dissolved existing agreements and decided that they will no longer enter into MSAs. The Bureau encourages all mortgage industry participants to consider carefully RESPA’s requirements and restrictions and the adverse consequences that can follow from non-compliance.” The bulletin follows several CFPB administrative enforcement actions that have altered the application and reach of the criminal Section 8 provisions under RESPA.

The CFPB described the bulletin as a “non-binding general statement of policy” but insisted that “a more careful consideration of legal and compliance risk arising from MSAs would be in order for mortgage industry participants generally.” ABA is watching the bureau’s activity on RESPA closely given its significant market and compliance repercussions. For more information, contact ABA’s Rod Alba.

ADVERTISEMENT
Tags: MarketingRESPA
ShareTweetPin

Related Posts

Future risk and compliance professionals may be just down the hall

Marketing mutuality

Mutual Banks
May 12, 2025

Mutuals Matter campaign seeks to educate the public about what separates mutual banks from other financial institutions.

U.S. Supreme Court rules CFPB’s funding structure is constitutional

With Trump signing repeal of CFPB overdraft rule, ABA to drop lawsuit

Compliance and Risk
May 9, 2025

President Trump has signed into law an ABA-championed resolution overturning the CFPB’s limits on overdraft fees.

CFPB claims ‘complex’ pricing drives up cost of financial products

CFPB rescinds dozens of guidance documents

Compliance and Risk
May 9, 2025

The CFPB announced it is rescinding dozens of guidance documents on topics such as fair lending, overdraft fees, disclosure policies and consumer information requests to large banks and credit unions.

CFPB issues decision on TILA preemption of state laws

ABA, plaintiffs push back against state claims in Illinois interchange lawsuit

Legal
May 9, 2025

ABA and other plaintiffs said the court has already recognized that an Illinois law restricting certain interchange fees is preempted by federal law, so it should reject the state’s arguments against the court making a summary judgment in...

FDIC’s McKernan sees lack of justification for proposed capital standards

Trump nominates McKernan for Treasury Department role

Newsbytes
May 9, 2025

President Trump nominated former FDIC Board Member Jonathan McKernan as undersecretary of domestic finance at the Treasury Department. McKernan had been the nominee to lead the CFPB.

Former NCUA chair named acting OCC head

Acting Comptroller Hood outlines OCC priorities

Compliance and Risk
May 9, 2025

Acting Comptroller Rodney Hood outlined his top priorities for the OCC, including efforts to promote financial inclusion and expand the banks’ ability to provide cryptocurrency services.

NEWSBYTES

With Trump signing repeal of CFPB overdraft rule, ABA to drop lawsuit

May 9, 2025

CFPB rescinds dozens of guidance documents

May 9, 2025

ABA, plaintiffs push back against state claims in Illinois interchange lawsuit

May 9, 2025

SPONSORED CONTENT

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025
Six Payments Trends Driving the Future of Transactions

Six Payments Trends Driving the Future of Transactions

March 15, 2025
AI for Banks: A Starter Guide for Community and Regional Institutions

AI for Banks: A Starter Guide for Community and Regional Institutions

March 1, 2025

PODCASTS

Podcast: Accelerating banking for quick-service restaurants

May 8, 2025

How a Georgia community bank supports government-guaranteed lending nationwide

May 1, 2025

Podcast: Quantum computing’s shakeup in payments, cybersecurity

April 24, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.